Clearway Capital proposes the replacement of GZO trustees

Media Release

Clearway Capital proposes the replacement of GZO Trustees

Zurich, July 31, 2025 – Clearway Capital Partners ICAV has requested that a proposal be put forth to GZO AG’s creditors to appoint a new, independent trustee at the upcoming Creditors’ Meeting on September 8.

Clearway Capital Partners ICAV (“Clearway”) has formally filed a request to include an agenda item proposing the replacement of current trustees Brigitte Umbach-Spahn and Stephan Kesselbach at the upcoming GZO AG creditors’ meeting scheduled for September 8, 2025.

Clearway’s proposal seeks the appointment of Michael Endres, Attorney-at-Law & Notary Public, lic. Iur. HSG, M.B.L. HSG, from HütteLAW AG, as the new independent trustee. This request follows extensive discussions with other creditors, during which significant concerns were raised regarding the independence and performance of the current trustees.

Many creditors have expressed doubts about whether their interests are genuinely being represented in the ongoing restructuring proceedings, perceiving a disproportionate emphasis on shareholders’ interests. Clearway believes that the appointment of a new, independent trustee will ensure fair representation for all creditor groups.

Clearway underscores the urgency for creditors to actively participate in the meeting on September 8. The vote will occur on a per-head basis, meaning every creditor’s vote counts equally, regardless of the size of their claim. Clearway emphasizes the importance of attendance even by creditors with minimal ownership, as their votes are critical in achieving an equitable resolution. Creditors who are unable to attend in person are strongly encouraged to ensure their votes are cast by proxy. To facilitate this, Clearway intends to make a representative available to act on behalf of absent creditors at the September 8 meeting.

Furthermore, Clearway remains committed to ensuring that GZO AG continues to operate as a viable going concern. Clearway firmly believes the current restructuring path risks driving the hospital into bankruptcy and seeks this change in trusteeship as a vital step to preserve operations and protect creditor interests.
 

About Clearway Capital:

Clearway Capital Partners is an alternative investment fund that invests in special situations in Western European markets where seeks to unlock value through responsible ownership. With a focus on protecting investor rights and ensuring fair treatment of stakeholders, Clearway Capital actively advocates for transparent and equitable corporate practices. The firm is committed to maximizing value for investors while leaving a positive impact on society. 
 

Contact for Media:

Lemongrass Communications AG

susanne.muehlemann@lemongrass.agency
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Contact for Investors:

Clearway Capital GmbH

info@clearwaycp.com